New World Marketing Inc. is working with Rajendra Sharma, an actuary, to help U.S. insurers enter the Indian life insurance market.
India has permitted non-Indian investors to own stakes of up to 26% in Indian life joint ventures since 1999. The Indian government now is considering proposals to increase the maximum stake to 49%.
Sharma, who is based in Somerdale, N.J., has provided India market consulting services for MetLife Inc., New York; New York Life Insurance Company, New York; and Prudential Financial Inc., Newark, N.J.
New World Actuaries, a subsidiary of New World Marketing, Houston, and Sharma will work to advise U.S. insurers about the considerations involved with entering the Indian market, such as a need to invest $25 million in a joint venture.